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Industrial Machinery company Lloyds Engineering Works announced Q4FY24 results:
Q4FY24 Financial Highlights:
- Revenue grew by 8.08% YoY led by efficient execution.
- EBITDA for Q4FY24 grew to Rs 29.73 crore from Rs 14.13 crore in Q4FY23, a robust growth of 110.32% YoY. Margins for Q4FY24 stood healthy at 15.58%.
- Order Book as of 31st March 2024 stood at Rs 904.32 crore.
- Among all the sectors, the Marine and Navy segment is witnessing a robust tailwind for the company.
- The latest technological tie-ups are further aiding the company in building a solid engineering product and solutions portfolio.
FY24 Financial Highlights:
- For FY24, revenue grew robustly by 99.69% YoY to Rs 624.24 crore.
- Order book as of date is ~2.89x of FY23 sales and 1.45x of FY24 sales.
- Despite solid execution in FY24, the order book remains healthy.
- The order book for the company has grown by 32.42% YoY, with Rs 849.51 crore of fresh orders in FY24.
Shreekrishna Gupta, the Whole time Director commented on FY24’s performance: “We are delighted to announce the exceptional performance of Lloyds Engineering in FY24, showcasing robust revenue growth fueled by our unwavering commitment to efficient execution and operational excellence. The substantial increase in revenue of 99.69% YoY for the entire fiscal year, underscores the resilience and strength of our business model. Our Q4FY24 EBITDA growth of 110.32% YoY to Rs 29.73 crore, with healthy margins at 15.58%, reflects our relentless pursuit of efficiency and productivity. The significant expansion of our order book to Rs 904.32 crore, a growth of 32.42% YoY, underscores the trust and confidence our clients place in us. Notably, our Order book is well-balanced across sectors, with the Marine and Navy segments showing encouraging signs of growth to come ahead . Maintaining a net debt-free status underscores our financial discipline and operational prowess. The recent acquisitions of fresh orders from the Navy signify our positive trajectory in the Defence sector, further strengthening our market position.
Our strategic technological tie-ups are pivotal in augmenting our engineering product and solutions portfolio, opening doors to new opportunities in sunrise sectors. We are poised for even greater success, with a robust outlook and a strong foundation. Our strategy of focusing on customized orders ensures not only customer satisfaction but also sustains robust margins, setting us apart in the industry.
We extend our heartfelt gratitude to our dedicated team, loyal customers, and supportive stakeholders whose contributions have been instrumental in our journey. As we look ahead, we remain committed to delivering value, driving innovation, and seizing opportunities for growth."
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